What is the term of a typical lease?
3 -5 years
How is the rent quoted?
What is the tenant's option for termination or break?
Negotiable, but not typically a concession that landlords offer.
Does the tenant have the option to renew? What is the length of the typical option?
Yes. Typically, 5-year renewal option at prevailing fair market rental rate.
How is the rent determined at renewal?
Based upon fair market value.
What is the typical rent-free period, if any?
1 month on 3-year lease and 3 months on 5-year lease.
What is the typical rent escalation?
3% annual increases.
Does the tenant have the right to sublet?
Typically,yes to a related subsidiary company or with landlord's prior written approval.